North Cyprus News | Online News for North Cyprus

Former KTHY Workers Want Share of HQ Sale

Former KTHY Workers Want Share of HQ Sale

July 04
09:24 2018

The former employees of Cyprus Turkish Airlines KTHY have asked for a share of the proceeds raised from the sale of the KTHY building in Nicosia as compensation and to complete their pension fund.

North Cyprus News - Cyprus Turkish Airlines - Boeing 737-800Airline employees’ union HAVA-SEN reminded that the building had been sold at a public auction on 22 June to the Finance Ministry for £3.68 million. The ministry put down 10% as an initial payment and will pay the rest within 15 days of the auction.

HAVA-SEN stated that the defunct airline’s former employees had been waiting for eight years for their retirement fund to be restored. The airline collapsed in 2010. After repaying the mortgage to Vakiflar Bank the remainder will be used for a special fund to distribute overdue pension payments.

Kibris